PayPal Holdings Inc (NASDAQ: PYPL) Partners With United Airlines to Allow Passengers to Make In-flight Purchases

United Airlines passengers can now pay for in-flight purchases through PayPal Holdings Inc (NASDAQ: PYPL) even when there is no Wi-Fi connection. The service that will be made available in flight from Chicago O’Hare International Airport in November works by showing the flight attendant a Q.R. code that allows you to buy snacks. United Airlines is the first airline to offer the service. It will be made available to other regions by the end of 2021.

Bernstein Liebhard files lawsuit against PayPal

Despite PayPal’s new partnership with United Airlines, it is still not above controversy. Bernstein Liebhard, an investor rights law firm, is filing a class-action lawsuit on behalf of investors who purchased PayPal securities between February 9, 2017, and July 20, 2021. The firm has brought charges of violations of the Securities Exchange Commission (SEC) Act of 1934.

The law firm alleges that PayPal made false and misleading statements by failing to disclose procedures and controls. It also used practices in paying interchange rates related to debit cards that were not compliant with regulations.PayPal shares have gone down by 11.29% in the last month. Analysts have estimated that the company will have an EPS OF $1.07 AND $6.22 billion in revenue.

PayPal is hosting pages for groups that spread COVID-19 misinformation

More controversy follows the company as reports that it is hosting crowdfunding and donation pages for groups that spread misinformation on vaccines and COVID-19. These groups are the Evidence-Based Medicine Consultancy Ltd, Urban Global Health Alliance, Children Health Defense, America’s Frontline Doctors, and Front Line COVID-19 Critical Care Alliance.

Meanwhile, a study shows that PayPal is the preferred buy now, pay later (BNPL) platform among American teens in a survey of 10,000 teens with an average age of 15.8. The PayPal BNPL services allow users to split payments into four over six weeks with no fees.

The company’s Senior Vice President of Global Fraud Risk and Digital Identity, Arthi Rajan Makhija, has said that the company is now exploring other ways to protect users from fraud as passwords are not as effective as they used to be. These include a combination of fingerprint biometrics, facial recognition, and device-level data such as location.

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Published by Brendan Byrne

While studying economics, Brendan found himself comfortably falling down the rabbit hole of restaurant work, ultimately opening a consulting business and working as a private wine buyer. On a whim, he moved to China, and in his first week following a triumphant pub quiz victory, he found himself bleeding on the floor based on his arrogance. The same man who put him there offered him a job lecturing for the University of Wales in various sister universities throughout the Middle Kingdom. While primarily lecturing in descriptive and comparative statistics, Brendan simultaneously earned an Msc in Banking and International Finance from the University of Wales-Bangor. He's presently doing something he hates, respecting French people. Well, two, his wife and her mother in the lovely town of Antigua, Guatemala. You may contact Brendan via his email (brendanbyrne@wallstreetpr.com) or his Google+ page (https://plus.google.com/u/0/116608759701551457422).

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